This is CBS, I Am the World.

I'm John Bachelors.

The Russian economy under sanctions in wartime.

The unknowns of the offensive in Ukraine, but the knowns of the Russian economy, headline.

Russia's central bank sounds alarms on the economy.

As the falling rubble and record labor shortage add inflationary pressures, the answer to this

is Vladimir Putin.

There is a St. Petersburg International Economic Forum underway.

It is held every year.

This is the second year of the war.

And Vladimir Putin, according to the Wall Street Journal, will attempt to present Russia

as primed for investment despite economic erosion for more than a year of war and sanctions

as he addresses some of the Kremlin's remaining allies.

I welcome Michael Bernstum.

He's at the Hoover Institution and he's my guide on the Russian economy.

There you have it, Michael.

The rubble is falling and Vladimir Putin says Russia is a great investment.

I have an idea which way we're going to go, but in any event, the St. Petersburg International

Economic Forum.

The reporting is no one of major value showed up, no state leaders showed up.

Maybe Viktor Orban was there for a couple of minutes.

What is your measure right now of this falling rubble and the rise of inflation?

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